Avenir Corp Lowers stake in Popeyes Louisiana Kitchen Inc (PLKI)

Popeyes Louisiana Kitchen Inc (PLKI) : Avenir Corp reduced its stake in Popeyes Louisiana Kitchen Inc by 3.8% during the most recent quarter end. The investment management company now holds a total of 987,264 shares of Popeyes Louisiana Kitchen Inc which is valued at $57,942,524 after selling 39,027 shares in Popeyes Louisiana Kitchen Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Popeyes Louisiana Kitchen Inc makes up approximately 5.00% of Avenir Corp’s portfolio.

Other Hedge Funds, Including , Aqr Capital Management reduced its stake in PLKI by selling 3,020 shares or 37.6% in the most recent quarter. The Hedge Fund company now holds 5,011 shares of PLKI which is valued at $294,096. Riverhead Capital Management added PLKI to its portfolio by purchasing 1,200 company shares during the most recent quarter which is valued at $72,684. Sg Americas Securities added PLKI to its portfolio by purchasing 4,347 company shares during the most recent quarter which is valued at $234,260. Cypress Funds added PLKI to its portfolio by purchasing 200,000 company shares during the most recent quarter which is valued at $10,778,000. Popeyes Louisiana Kitchen Inc makes up approx 2.97% of Cypress Funds’s portfolio.

Popeyes Louisiana Kitchen Inc closed down -0.04 points or -0.07% at $60.13 with 1,37,200 shares getting traded on Monday. Post opening the session at $60.48, the shares hit an intraday low of $59.37 and an intraday high of $60.48 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Popeyes Louisiana Kitchen Inc reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Nov 9, 2016. Analyst had a consensus of $0.53. The company had revenue of $64.00 million for the quarter, compared to analysts expectations of $64.92 million. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Many Wall Street Analysts have commented on Popeyes Louisiana Kitchen Inc. Company shares were Reiterated by Maxim Group on Nov 11, 2016 to “Hold”, Firm has raised the Price Target to $ 63 from a previous price target of $60 .Popeyes Louisiana Kitchen Inc was Downgraded by Jefferies to ” Hold” on Nov 11, 2016.

Popeyes Louisiana Kitchen Inc. (Popeyes) develops operates and franchises quick-service restaurants (QSRs or restaurants) under the trade names Popeyes Chicken & Biscuits and Popeyes Louisiana Kitchen. The Company operates through two segments: franchise operations and company-operated restaurants. Within the QSR industry Popeyes offers Louisiana style menu that features spicy chicken chicken tenders fried shrimp and other seafood red beans and rice and other regional items. The Company has approximately 340 franchisees operating restaurants within the Popeyes system. Its domestic franchisee operates approximately 132 restaurants and its international franchisee operates approximately 109 restaurants. The Company operates and franchises approximately 2379 Popeyes restaurants in 48 states the District of Columbia three territories and 26 foreign countries.

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